The issuers additionally want the SEC to sign-off on the ultimate variations of their S-1 filings, that are the prospectus paperwork for the ETFs. SEC approval of the 19b-4 and S-1 types could or could not occur concurrently, although usually the S-1s are accepted after the 19b-4s.
A consultant for the SEC declined to remark.
Ought to each approvals be obtained, the ETFs may begin buying and selling as quickly as the following enterprise day.
Final week, a number of issuers, together with BlackRock Inc. and Constancy, submitted amended S-1 filings to call their licensed individuals — broker-dealers liable for dealing with the creation and redemption of baskets of shares for ETFs.
Whereas the step is often taken as a right in conventional ETF creations, it drew consideration in Bitcoin ETF purposes as a result of some trade watchers had expressed issues that Bitcoin funds would have a tougher time attracting broker-dealers.
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